With plans for an IPO in 2025, London-based buy now, pay later firm Zilch has successfully secured £100 million in securitised debt financing, arranged by Deutsche Bank (DB).
In just four years since its founding, Zilch has attracted over four million customers and now processes more than 10 million payments each month. The company offers a unique reward-earning debit and zero-interest installment option.
Zilch CEO and co-founder Philip Belamant stated that this new financing will help the company triple its sales volume and improve capital efficiencies. He emphasized, “This partnership not only provides a great opportunity for debt investors to join Zilch’s success but also enables us to accelerate the rollout of our feature roadmap, expanding our wallet and market share. We’re adding over 100,000 new customers each month, doubling revenue year over year, and this deal will allow us to build upon that momentum.”
Currently valued at $2 billion, Zilch has engaged in discussions with the London Stock Exchange, New York Stock Exchange, and Nasdaq regarding a potential listing, though a venue has yet to be chosen.
CFO Hugh Courtney remarked, “The financing establishes an initial benchmark for us to price our debt issuance in the future, enabling us to competitively match pricing and terms as the business grows. This securitisation also represents a significant milestone as we work towards an IPO.”